Voice Control

Voice Recognition Software Business Plan

Executive Summary

Voice Control, Inc. was created to provide a solution to orthopedic surgeons. Specifically, the solution deals with the input of patient data into a medical records database.

The solution utilizes an increasingly popular and accurate speech recognition component known as "telephony." This solution will provide the orthopedic surgeons with the ability to input patient data as they give the actual exam. This will fill a major gap not available in the current competitive product offerings.

The value proposition to the physician is the ability to see more patients and decrease their operating costs. This provides higher revenue and greater operating margins.

The company will be differentiated from its competitors as a result of offering the first turnkey solution for electronic medical records utilizing telephony.

Market research collected at the American Academy of Orthopedics last fall revealed that 86% would purchase electronic medical records with telephony input capabilities versus traditional input.

Additional market research demonstrated that less than 10% of the industry currently utilizes electronic medical records. Further, 89% of the market plans to purchase electronic medical records within the next five years. Of that, 42% within 18 months, 36% within three years and 11% within five years.

All of this information forms an individual patient file. Electronic medical records represents all patient information being stored in a database creating the potential for a paperless office.

With approximately 15,000 licensed orthopedist in the United States, this represents a mature market with the need and ability to pay for electronic medical records services. Our plan is to penetrate a minimum of 13% in this market by our fifth year.

The execution of this plan will require initial financing. The cash reserves in the fifth year will be substantial. This will provide the opportunity for the owners to begin buying back the shares of the company required to fund the start-up. The owners currently desire to buy back all outstanding shares during this year.

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1.2 Mission

Our customers are the lifeline to our mission. Every effort will be made to meet all customer expectations. Our quality of product, service and quality towards customer concerns will set the industry standard.

Voice Control, Inc. will provide an environment for employees that will render individual growth opportunities, creativity, fair compensation, family values, and the opportunity for civic participation.

1.3 Keys to Success

The keys to our success are:

Acceptance of speech recognition software as an alternative process to current methods of dictation/transcription.

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Voice Control voice recognition software business plan executive summary. Voice Control, Inc. was created to provide services relating to the input of patient data into a medical records database for orthopedic surgeons, including a voice recognition software database appli